You are mixing 2 companies ABM (the thread you qouted this all from) and PGM (read OP for link) the company I took over from paladon.
PS:
To all shit stirrers:
Please make sure you know what you talk about before posting.
I notice you aren't disputing any facts. Go on, dispute some facts. If I'm wrong, unlike most of the other chuckleheads on this forum, I'll retract my posts and post an apology. Am I wrong?
Your business plan(s) are essentially identical to all the other hashrate-based rather than enterprise-based mining scams out there: you are betting on difficulty continuing to go up, which is exactly what it's going to do. The upgrade to ASIC being in some other venture (which you are still running) is a stupid red herring: the money raised from these "stocks" is something you will only ever have to
fractionally pay back, because you've never stated that the profits will be used to keep the mining
return current with difficulty.
In other words, the "profit" isn't actually a profit, and due to rising difficulty will slowly be eroded away until the 60MH/s is just as worthless as the 0.8MH/s was. You're getting the public to pay for your miners, in advance, and have thus realised an ROI on your IPO at the expense of a tiny amount of effort going forward.
ABM, or PGM, it doesn't matter. The only difference is time-to-realised-scam, and the fact that the OP mis-labelled this scam thread.
The "price" includes the price of an ASIC upgrade!? So in other words, the users were still charged about double of even the full-price of the ASIC. Now why did you do that, anyway? Why would you so severely overcharge?
Call me a shit-disturber again. Go on.
AS I said right at the start of the thread - you (investors) made your loss the moment you decided to invest and pay a massive mark-up on the hardware as a management fee.
The closing-down payment is NOT a scam. The ownership of the remaining shares is irrelevant - as 1 share is worth 1/1000 of the BFL single + upgrade irrespective of who owns the rest.
If it was a scam anywhere it would have to be at the launch by charging such a steep markup and basically gauranteeing no initial ivnestor could ever make a profit. But that isn't really a good basis for a scam accusation as there was no deception. Sure it was a shockingly bad, horribly over-priced investment. But a scam? No. If it were then majority of mining companies/bonds should have their own threads in here - as very few will/have ever made a profit for investors.
All the shutdown has done is finally made it obvious to all investors just how they wasted their BTC investing in it. Had it kept going you'd still probably lose the same amount (might be more, might be less - my guess is probably more if anything) - just spread out over a longer period.